SINOVATE Weekly Update 18/01/2021 ~ 25/01/2021

SINOVATE (SIN) provides a summary of news, progress, and project development every week. This article serves as the latest version of an on-going series, keeping our community informed on all things SIN. Stay tuned to our social media and communication channels for updates as and when they happen.

ANNOUNCEMENTS & PARTNERSHIPS

SINOVATE Community Governance Proposal

Prior to announcing our 2021 roadmap, SINOVATE is conducting a community governance proposal to decrease the total number and associated rewards for upcoming BIG and MID Deterministic Infinity Nodes. There are currently almost 400 BIG and MID nodes, with 1752 SIN and 838 SIN received by BIG and MID SIN Nodes. The purpose of this community vote is to propose the reduction of BIG rewards to 1250 SIN and MID rewards to 650 SIN, bringing these tiers close to 300 nodes each.

Click here for the reasons for this proposal and all that it entails. As always, regardless of the outcome, SINOVATE will only proceed as the majority decides. Your vote counts. Help to shape our future, and join us on our journey to create greater equality, wealth, and world-class decentralized cloud data storage for all.

SINOVATE releases HODL Coin Offering explainer video

Tired of low-interest rates from banks? Seeking more lucrative alternatives? Look no further than the SINOVATE HODL Coin Offering (HCO) marketing campaign. Earn up to 15% APY (annual percentage yield) for locking 75k SIN for a one-time-only 12-month period, equating to 11,250 extra SINOVATE coins. There is still time to join the HCO program, which will remain active for 54, 000 blocks (75-days). HCO entries will officially close around 04.02.2021. Check out the HODL Coin Offering explainer video here, and don’t forget to hit the like button! In-wallet instructions for participating in this campaign are also available here. Visit the SINOVATE YouTube Channel for all previous video releases.

FLITS Hosted Service: Official SINOVATE Statement

As you may be aware prior to the SINOVATE AURORA Mainnet in November, the Flits project encountered an issue in setting up infinity nodes on their application. This error resulted in the loss of all infinity nodes hosted on Flits. SINOVATE endeavored to work with the Flits team to find a solution so that impacted node owners would be fully reimbursed but to no avail.

Negotiations failed between SINOVATE and Flits; both companies decided to initiate independent compensation plans. SINOVATE aims to support as many affected members as possible, while also encouraging these members to use Flits’ compensation plan to ensure that minimal losses are incurred. If you have been impacted by this issue, please fill out this form carefully, as we will use this information to send your compensation. Please only use the original Collateral Node Address, as we will not forward any compensation without this.

As soon as we receive the full list of impacted nodes the forms will be processed. Flits users will be compensated by block 866,800 as described here. Please ensure that all information provided is correct. This form will close on 01.03.2021. Please share the form with other Flits users. Thank you for your fantastic support.

COMMUNITY GROWTH & SOCIAL MEDIA

We continue to experience high growth across all social media and communication channels:

Sinovate.io STATS

DEVELOPMENT

Released:

46201eb [gui] add "Message of the Day" label on setUP tab. - hardwarewise

15f0ae5 add images for releases - hardwarewise

In progress:

  • IDS — Step 1.
  • Incorruptible Data Storage.
  • bFTP.

• SINCORD Messenger (Decentralized Direct Messaging).
• Blockchain-based Electronic Mail.

Blockchain Stats

Monthly Update

Our latest Monthly Report can be accessed on Medium:

December 2020 Monthly Report Medium

FINANCIAL STATEMENT

The latest Financial Statement is also available to view:

December 2020 Financial Statement Medium

Join us and stay tuned for all forthcoming updates via our website and social media platforms:

Website Discord . Telegram . Bitcointalk . Twitter . Facebook .Linkedin. Team.YouTube.Reddit.Instagram.

Author: Amit Kaushal

Blockchain dCloud Storage

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